Tax deferral and mutual fund inflows evidence from a quasi - natural experiment Giuseppe Cappellatti, Giovanni Guazzarotti and Pietro Tommasinos
By: Cappelletti, Giuseppe
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Contributor(s): Guazzarotti, Giovanni | Tommasino, Pietro.
Material type: 
ArticlePublisher: 2019Subject(s): IMPUESTOS | PRESION FISCAL | FONDOS DE INVERSION | ITALIA
In:
Fiscal Studies v. 40, n. 2, June 2019, p. 211-237Summary: We propose a new method to identify the impact of a change in the tax burden on mutual fund inflows. We use quasi‐experimental data from Italy where, starting from July 2011, the tax regime for domestic mutual funds was changed from an accruals basis to a realisation basis, while the taxation of foreign funds remained on a realisation basis. We find that the reform has had a positive effect on net inflows of Italian funds (the treated group) with respect to foreign funds (the control group). The effect is both economically and statistically significant. Moreover, there is no evidence that the increase in the demand for Italian funds came at the expense of foreign funds.
| Item type | Current location | Home library | Call number | Status | Date due | Barcode |
|---|---|---|---|---|---|---|
| Artículos | IEF | IEF | OP 1472/2019/2-2 (Browse shelf) | Available | OP 1472/2019/2-2 |
Resumen
Bibliografía.
We propose a new method to identify the impact of a change in the tax burden on mutual fund inflows. We use quasi‐experimental data from Italy where, starting from July 2011, the tax regime for domestic mutual funds was changed from an accruals basis to a realisation basis, while the taxation of foreign funds remained on a realisation basis. We find that the reform has had a positive effect on net inflows of Italian funds (the treated group) with respect to foreign funds (the control group). The effect is both economically and statistically significant. Moreover, there is no evidence that the increase in the demand for Italian funds came at the expense of foreign funds.
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